Monday, 16 November 2015

What are the benefits of being an SBI Employee?

The largest commercial bank in India, State Bank of India (SBI) comes out with advertisements almost every year to recruit in the posts of assistants and probationary officers.

Salary Structure: The basic salary of a newly joined SBI PO is more than that of a PO who has joined in any other public sector bank because SBI offers four additional increments at the initial stage to the officers. Therefore, whatever the basic salary is for other banks, you will get more than that in SBI. For assistants, however, the basic salary is same for all the banks. Apart from this, an employee is eligible to get Dearness Allowance, House Rent Allowance, Special allowance on the basic pay and City Compensatory Allowance as an employee of the bank.

Contributory Provident Fund: The employees with the bank are governed under the Defined Contributory Provident Funds Scheme in which the bank will make contributions to the PF account of the employee and as per the latest data, the monthly contribution from the bank is Rs 1641

Lease Facility: The officers are eligible to get lease accommodation in their place of posting and in lieu of the lease accommodation provided by the bank, the HRA component will not be credited to the employee. The lease rental ceiling is very attractive in SBI as it pays around 30000/- for lease accommodation in Mumbai, the highest among all the public sector banks. However, there is no such facility for the clerks, as of now

Perquisites: Apart from salary, the officers in SBI are eligible for various perquisites like newspaper allowance, petrol allowance, entertainment allowance, house maintenance allowance, books and magazine allowance, briefcase allowance, reimbursement of telephone bills etc. The total monetary value of perquisites in the bank comes to around 5000/- on a monthly basis. The clerks in SBI are also eligible for petrol allowance, entertainment allowance, newspaper grant etc on a monthly basis

Medical Benefits: The employees in SBI enjoy a medical benefit scheme, unmatched in the public sector. There is 100% reimbursement for self treatment whereas 75% of the total amount is reimbursed if the treatment has been done for the dependent of the employee. Moreover, the bank has tie-up with some of the best medical facilities around the country and employees are eligible for cashless treatment in these places

Home Travel Concession / Leave Fare Concession: The officers are eligible for leave fare concession or leave travel concession and it can be taken in a block of 2 years or 4 years according to the choice of the employee. The officers in scale 1 are eligible for reimbursement of fare in AC II-tier of trains.

Concessional rate of interest for loans: SBI employees are eligible for loan under staff scheme in concessional rate of interest for housing loans, car loans etc. Moreover, the rate of interest for deposits is also 1% more than the general public for the staff members

Furniture Allowance: This benefit is exclusively for officers as the bank provides a one-time grant to the officers for furnishing of residence and also an annual maintenance charge for the same. Presently, a scale I officer is entitled to get Rs 150000 for furnishing of residence for which the bank will recover a nominal rent on yearly basis

Two-year sabbatical to women staff: Women employees of SBI can take two-year sabbatical leave from work for purposes such as children's education.

Apart from all these monetary benefits and perquisites, SBI offers the best promotion policy among all the public sector banks in India and it rewards its top performers accordingly by giving them challenging assignments. The learning opportunities are immense and so the opportunities of growth in both personal and professional space.
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Total No of Posts: 08Name of the Posts:1. Vice President (Customer Relationship Management): 01 Post2. Vice President (Credit & Operations Analytics): 01 Post3. Vice President (Project Management):02 Posts4. Technology Architect: 02 Posts5. Vice President (Human Resources): 01 Post6. Vice President-Compliance (Company Secretary): 01 PostAge Limit: Candidates age should be between 21-45 years for post 6, 21-40 years for remaining all posts as on 31-10-2015. Age relaxation will be applicable as per government rules.

Selection Process: Candidates will be selected based on qualification, experience, overall suitability for Interview & Interview.

Application Fee: Candidates have to pay Rs. 600/- through online by using debit card/ credit card/ Internet Banking etc. by providing information as asked on the screen. Transaction charges for online payment, if any, have to borne by the candidates.

How to Apply: Eligible candidates may apply online through the website www.statebankofindia.com from 10-11-2015 to 20-11-2015 & send hard copy of online application along with relevant documents, e-Receipt of fee payment by post to Central Recruitment & Promotion Department, Corporate Centre, 3rd Floor, Atlanta Building, Nariman Point, Mumbai-400021 on or before 27-11-2015.

Instructions to Apply Online:1. Before applying candidates have valid Email ID & scanned copies of photograph & signature.2. Log on through the website www.statebankofindia.com/ www.sbi.co.in3. Click on “Careers with us” —> “Recruitment of Specialist Cadre Officers in State Bank of India (on Contract Basis)”.4. Click on “Apply Online”.5. Click on “Click here for New Registration”, if you are new user.6. Get registered & then fill all the details & upload photo, signature and click on Submit button.7. Make payment through online.8. After successfully submission of online application, take a print out of the online application form for future use.